Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2024

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

000-55320

(Commission file number)

NEXIEN BIOPHARMA, INC.

(Exact name of registrant as specified in its charter)

Delaware

26-2049376

(State or other jurisdiction

of incorporation or organization)

(I.R.S. Employer

Identification No.)

4340 E Kentucky Ave., Suite 206, Glendale, CO 80246

(Address of principal executive offices) (Zip Code)

(303) 495-7583

(Registrant’s telephone number, including area code)

Not applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act: None

Title of each class		Trading Symbol(s)		Name of each exchange on which registered

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

	Large accelerated filer ☐	Accelerated filer ☐
	Non-accelerated filer ☐	Smaller reporting company ☒
		Emerging growth company ☐

If an emerging growth company, indicate by the check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 70,772,196 shares as at November 18, 2024.

TABLE OF CONTENTS

Item	Description	Page
	PART I - FINANCIAL INFORMATION

ITEM 1.	FINANCIAL STATEMENTS.	3
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.	15
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.	17
ITEM 4.	CONTROLS AND PROCEDURES.	17

	PART II - OTHER INFORMATION

ITEM 1.	LEGAL PROCEEDINGS.	18
ITEM 1A.	RISK FACTORS.	18
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.	18
ITEM 3.	DEFAULT UPON SENIOR SECURITIES.	18
ITEM 4.	MINE SAFETY DISCLOSURES.	18
ITEM 5.	OTHER INFORMATION.	18
ITEM 6.	EXHIBITS.	18

PART 1 - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS

Nexien BioPharma, Inc.

Consolidated Balance Sheets

	September 30, 2024			June 30, 2024
	(Unaudited)			(Audited)

Current Assets
Cash	$	4,953		$	4,183

Total Current Assets		4,953			4,183

Total Assets	$	4,953		$	4,183

Liabilities and Stockholders’ (Deficit)

Current Liabilities
Accounts payable and accrued expenses	$	68,406		$	53,178
Due to officer		68,400			58,400
Convertible note payable - related party		65,000			65,000
Convertible note payable - net of discount of $6,044 (June 30, 2024)		194,898			188,854
Convertible note payable		194,898			188,854

Total Current Liabilities		396,704			365,432

Total Liabilities		396,704			365,432

Commitments and Contingencies		-			-

Stockholders’ (Deficit)
Preferred stock - $.0001 par value; 10,000,000 authorized; none issued		-			-
Common stock - $.0001 par value; 200,000,000 shares authorized; 70,472,196 shares issued and outstanding		7,047			7,047
Additional paid in capital		11,167,679			11,166,177
Accumulated deficit		(11,566,477	)		(11,534,473	)

Total Stockholders’ (Deficit)		(391,751	)		(361,249	)

Total Liabilities and Stockholders’ (Deficit)	$	4,953		$	4,183

See accompanying notes to these consolidated financial statements.

Nexien BioPharma, Inc.

Consolidated Statements of Operations

Three Months Ended September 30, 2024 and 2023

(Unaudited)

	2024			2023

Revenue	$	-		$	-

Operating expenses
Professional fees		12,680			15,540
General and administrative		3,030			46,455

Total operating expenses		15,710			61,995

Other income (expense)
Interest expense		(10,250	)		(7,521	)
Amortization of discount on convertible notes		(6,044	)		(5,402	)

Total other income (expense)		(16,294	)		(12,923	)

Net loss	$	(32,004	)	$	(74,918	)

Loss per share - basic and diluted	$	(0.000	)	$	(0.001	)

Weighted average shares outstanding -
basic and diluted		70,472,196			64,574,394

See accompanying notes to these consolidated financial statements.

Nexien BioPharma, Inc.

Consolidated Statements of Stockholders’ (Deficit)

Three Months Ended September 30, 2024 and 2023

(Unaudited)

	Shares		Common Stock		Additional Paid in Capital		Stock Payable			Accumulated Deficit			Total Stockholders’ (Deficit)

Balance, June 30, 2024		70,472,196	$	7,047	$	11,166,177	$	-		$	(11,534,473	)	$	(361,249	)

Imputed interest on related party advance		-		-		1,502		-			-			1,502
Net (loss)		-		-		-		-			(32,004	)		(32,004	)

Balance, September 30, 2024		70,472,196	$	7,047	$	11,167,679	$	-		$	(11,566,477	)	$	(391,751	)

Balance, June 30, 2023		64,022,196	$	6,402	$	10,986,201	$	50,750		$	(11,295,360	)	$	(252,007	)
Balance		64,022,196	$	6,402	$	10,986,201	$	50,750		$	(11,295,360	)	$	(252,007	)

Common stock issued to officers		750,000		75		50,675		(50,750	)		-			-
Common stock to be issued to officers		-		-		-		35,000			-			35,000
Imputed interest on related party advance		-		-		1,125		-			-			1,125
Net (loss)		-		-		-		-			(74,918	)		(74,918	)

Balance, September 30, 2023		64,772,196	$	6,477	$	11,038,001	$	35,000		$	(11,370,278	)	$	(290,800	)
Balance		64,772,196	$	6,477	$	11,038,001	$	35,000		$	(11,370,278	)	$	(290,800	)

See accompanying notes to these consolidated financial statements.

Nexien BioPharma, Inc.

Consolidated Statements of Cash Flows

Three Months Ended September 30, 2024 and 2023

(Unaudited)

	2024			2023

Cash flows from operating activities
Net loss	$	(32,004	)	$	(74,918	)
Adjustments to reconcile net loss to net cash used in operating activities
Imputed interest on related party advances		1,502			1,125
Stock to officers		-			35,000
Amortization of discount on convertible debt - related		-			5,402
Amortization of discount on convertible debt		6,044			-
Changes is assets and liabilities
Decrease in prepaids		-			3,990
Increase in accounts payable and accrued expenses		15,228			12,318
Cash used in operating activities		(9,230	)		(17,083	)

Cash flows from investing activities
Cash used in investing activities		-			-

Cash flows from financing activities
Cash proceeds from related party advance		10,000			-
Cash provided by financing activities		10,000			-

Net increase in cash and cash equivalents		770			(17,083	)
Cash and cash equivalents, beginning of period		4,183			35,147
Cash and cash equivalents, end of period	$	4,953		$	18,064

Supplemental disclosure of non-cash investing and
financing activities

Shares issued to officers for services from stock payable	$	-		$	50,750

See accompanying notes to these consolidated financial statements.

NEXIEN BIOPHARMA, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 1 – Nature of Business and Basis of Presentation

Nexien BioPharma, Inc. (the “Company” or “Nexien”) was incorporated in the State of Michigan on November 10, 1952 as Gantos, Inc., and reincorporated in the State of Delaware in 2008, changing its name to Kinder Holding Corp. In October 2017, the Company completed a reverse acquisition of Intiva BioPharma Inc., a Colorado corporation (“BioPharma”), incorporated on March 27, 2017, through an exchange of shares (the “Share Exchange Transaction”) and changed its name to Intiva BioPharma Inc. In September 2018, the Company changed its name to Nexien BioPharma, Inc.

As a result of the Share Exchange Transaction, BioPharma became a wholly-owned subsidiary of the Company. Since this transaction resulted in the existing shareholders of BioPharma acquiring control of the Company, for financial reporting purposes, the business combination has been accounted for as an additional capitalization of the Company (a reverse acquisition with BioPharma as the accounting acquirer). The operations of BioPharma were the only continuing operations of the Company.

BioPharma was incorporated to pursue pre-clinical and drug development activities, in accordance with U.S. Food and Drug Administration (“FDA”) protocols, for certain pharmaceutical formulations that include cannabinoids. It is pursuing the formulation and development of drugs containing cannabinoids for the treatment of various diseases, disorders and medical conditions, and owns a license covering certain intellectual property, including certain patent applications, and has filed three of its own provisional patent applications for other drugs that include cannabinoids and other substances, including terpenes, that are intended to be developed with the objective of treating certain medical conditions and disorders. It was formed as a corporate subsidiary of the Colorado corporation Kanativa USA Inc. (“Kanativa USA”), which is a subsidiary of the Ontario, Canada corporation, Kanativa Inc.

Principles of Consolidation

The accompanying consolidated financial statements include BioPharma and its wholly owned subsidiaries: Intiva BioPharma Inc. (a Colorado corporation), NexN Inc. (“NexN”) and NexDM Inc. (collectively the “Company”), and were prepared from the accounts of the Company in accordance with accounting principles generally accepted in the United States of America (US GAAP). All significant intercompany transactions and balances have been eliminated on consolidation.

Note 2 - Going Concern Uncertainty

The accompanying financial statements have been prepared in conformity with US GAAP, which contemplates the continuation of the Company as a going concern. The Company has not established any source of revenue to cover its operating costs, and as such, has incurred an operating loss since inception of $11,566,477. The development of pharmaceuticals with the objective of obtaining approval by the FDA and other international regulatory authorities is not a short-term endeavor for any specific drug candidate. It also requires extremely significant amounts of capital funding for clinical trials and other matters. At September 30, 2024, the Company had a working capital deficit of $391,751. The Company will require significant additional capital to fund the implementation and execution of its business plan. This capital, which likely will be millions of dollars for a single drug candidate, will be required for research, regulatory applications, and clinical trials. At the present time, the Company does not have any commitments or known sources for this level of funding. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

Note 3 – Summary of Significant Accounting Policies

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates.

Cash and Cash Equivalents

For financial statement presentation purposes, the Company considers those short-term, highly liquid investments with original maturities of three months or less to be cash or cash equivalents. There were no cash equivalents at September 30, 2024.

Valuation of Long-Lived Assets

The Company reviews the recoverability of its long-lived assets including equipment, goodwill and other intangible assets, when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on the Company’s ability to recover the carrying value of the asset from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between estimated fair value and carrying value. The Company’s primary measure of fair value is based on discounted cash flows. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets, as well as other fair value determinations.

Fair Value of Financial Instruments

FASB ASC 825, “Financial Instruments,” requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. FASB ASC 825 defines fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. At September 30, 2024, the carrying value of certain financial instruments (cash and cash equivalents, accounts payable and accrued expenses) approximates fair value due to the short-term nature of the instruments or interest rates, which are comparable with current rates.

Fair Value Measurements

The Company measures fair value under a framework that utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of inputs which prioritize the inputs used in measuring fair value are:

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access.

Level 2: Inputs to the valuation methodology include:

	●	Quoted prices for similar assets or liabilities in active markets;
	●	Quoted prices for identical or similar assets or liabilities in inactive markets;
	●	Inputs other than quoted prices that are observable for the asset or liability;
	●	Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Note 3 – Summary of Significant Accounting Policies (continued)

If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability.

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The assets or liabilities fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

When the Company changes its valuation inputs for measuring financial assets and liabilities at fair value, either due to changes in current market conditions or other factors, it may need to transfer those assets or liabilities to another level in the hierarchy based on the new inputs used. The Company recognizes these transfers at the end of the reporting period that the transfers occur. For the periods ended September 30, 2024 and June 30, 2024, there were no significant transfers of financial assets or financial liabilities between the hierarchy levels.

As at September 30, 2024 and June 30, 2024, no assets or liabilities were required to be measured at fair value on a recurring basis.

Earnings per Common Share

The Company computes net income (loss) per share in accordance with ASC 260, Earning per Share. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. At September 30, 2024, there were potentially dilutive securities convertible into shares of common stock comprised of (i) stock options – convertible into 7,995,000 shares, (ii) warrants – convertible into 5,529,409 shares and (iii) promissory notes – convertible into 25,606,712 shares.

Income Taxes

The Company has adopted ASC 740, Accounting for Income Taxes. Pursuant to ASC 740, the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.

Revenue Recognition

The Company has adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products, licensing agreements and contracts to perform pilot studies by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied.

Research and Development Expenses

Research and development expenses are charged to operations as incurred. There were no research and development expenses incurred during the three months ended September 30, 2024 and 2023.

Note 3 – Summary of Significant Accounting Policies (continued)

Advertising Expenses

Advertising expenses are charged to operations as incurred. There were no advertising expenses incurred during the three months ended September 30, 2024 and 2023.

Stock-based compensation

Pursuant to FASB ASC 718, all share-based payments to employees, including grants of employee stock options, are recognized in the statement of operations based on their fair values.

Issuance of shares for non-cash consideration

The Company accounts for the issuance of equity instruments to acquire goods and/or services based on the fair value of the goods and services or the fair value of the equity instrument at the time of issuance, whichever is more reliably determinable. The Company’s accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services follows the provisions of the standards issued by the FASB. The measurement date for the fair value of the equity instruments issued is determined as the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement.

Reclassifications

Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current period presentation.

Recent Accounting Pronouncements

Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or results of operations. Management has evaluated accounting standards and interpretations issued but not yet effective as of September 30, 2024 and does not expect such pronouncements to have a material impact on the Company’s financial position, operations, or cash flows.

Note 4 – License Agreements

Accu-Break License Agreement

In February 2018, the Company obtained a worldwide exclusive license with respect to a proprietary delivery system for cannabinoid-based medications from Accu-Break Pharmaceuticals Inc (Accu-Break), whose President was an affiliate of the Company as of the date of the agreement. The Company paid $65,000 in cash to the licensor pursuant to the terms of the agreement and issued shares of common stock, valued at $35,000, as final payment due in August 2019. The Company is required to pay milestone payments upon obtaining regulatory approval of pharmaceutical licensed products and royalties based upon sales of licensed products and may grant sublicenses under the terms of the agreement. Although the Company has previously recognized an impairment of its capitalized costs for the license agreement under US GAAP, it retains its rights under the Accu-Break license agreement.

Note 5– Stockholders’ Equity

Common stock

The Board of Directors authorized the issuance of a total of 2,500,000 shares of common stock of the Company to each of its Chief Executive Officer and Chief Financial Officer, with 250,000 of such shares to be issued to each of them every quarter beginning July 1, 2021 and continuing every three months through October 1, 2023; and has authorized the issuance of a total of 1,250,000 shares of common stock of the Company to its Chief Operating Officer with 250,000 of such shares to be issued to him every quarter beginning July 1, 2022 and continuing every three months through July 1, 2023, it being the intent of the Board that the issuance of these shares represents compensation for services rendered for the then completed calendar quarter.

During the three months ended September 30, 2023, the Company issued shares of its common stock as follows:

●

750,000 shares (250,000 to each of the Company’s Chief Executive Officer, Chief Financial Officer and Chief Operating Officer) as consideration for their services to the Company during the three months ended June 30, 2023. The shares were valued at $50,750, based on the closing trading price of the Company’s common stock as of the date of Board authorization for the issuance.

Options

A summary of option activity during the three months ended September 30, 2024 is presented below:

Schedule of Stock Option Activity

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)

Outstanding and exercisable – June 30, 2024		7,995,000	$	0.26		1.7
Granted		-
Exercised		-
Expired/Canceled		-
Outstanding and exercisable -September 30, 2024		7,995,000	$	0.26		1.5

Warrants

A summary of warrant activity during the nine months ended September 30, 2024 is presented below:

Summary of Warrant Activity

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)

Outstanding and exercisable – June 30, 2024		5,529,409	$	0.0429		1.35
Granted		-
Exercised		-
Expired/Canceled		-
Outstanding and exercisable – September 30, 2024		5,529,409	$	0.0429		1.10

Note 6 – Convertible Notes Payable

Convertible note purchase agreement

(i) On January 18, 2022, the Company entered into a note purchase agreement with Quick Capital pursuant to which the Company issued Quick Capital a twelve-month convertible promissory note, due January 18, 2023, in the principal amount of $170,454 (the “Note”) with interest at the rate of 12% per annum. The Company received net proceeds of $146,750 from the note, after Quick Capital’s legal fees of $3,250, and an original issuance discount of 12% ($20,454). In connection with the Note issuance, Quick Capital was also issued 500,000 restricted shares of the Company’s common stock and a three-year warrant (the “Warrant”) to purchase up to an aggregate of 347,512 restricted shares of the Company’s common stock at an exercise price of $0.075 per share). These issuances were valued using the relative fair value method of the cash received on the note. The Note is convertible into shares of common stock at a conversion price of $0.035 per share.

There is no debt discount at September 30, 2024 and June 30, 2024, as all unamortized debt issuance costs and original issue discount had previously been charged to operations.

In May 2023, the Company and Quick Capital entered into an Amendment and Extension of the Note Purchase Agreement extending the maturity of the Note to June 30, 2023, under the same terms as the original Note, with interest during the extension period accruing at the rate of 12% per annum on the unpaid principal balance from the January 18, 2023, original date of maturity. In consideration of the extension of the Note, the Company issued to Quick Capital 500,000 shares of the Company’s Common Stock valued at $20,000 ($0.04 per share). Quick Capital extended the Note through March 31, 2024, and the Company and Quick Capital are in discussions for further extension of the Note. At September 30, 2024 and June 30, 2024, the Company recorded accrued interest of $34,408 and $29,308, respectively, on the outstanding principal balance of $170,454.

(ii) On February 14, 2024, the Company entered into a note purchase agreement with Quick Capital pursuant to which the Company issued Quick Capital a six-month convertible promissory note, due August 14, 2024, in the principal amount of $24,444, with simple interest at the rate of 12% per annum (default interest at 24% per annum). The Company received net proceeds of $20,000 from the note, after Quick Capital’s legal fees of $2,000, and an original issuance discount of 10% ($2,444). The note is convertible into shares of common stock at a conversion price of $0.02 per share. In connection with the note issuance, Quick Capital was also issued 2,200,000 restricted shares of the Company’s common stock valued at $13,485. At June 30, 2024, the face amount of the note was included in discount on convertible debt and was being amortized over the term of the loan. At June 30, 2024, the Company has recorded accrued interest of $1,090 on the outstanding principal balance of $24,444, and amortization of discount in the amount of $18,400. There is no debt discount at September 30, 2024, as all unamortized debt issuance costs and original issue discount had previously been charged to operations.

Convertible notes payable - related

On November 24, 2020, the Company entered into financing agreements with two individuals, its CEO and a shareholder. Under the agreements, the Company issued unsecured convertible promissory notes due in three years (November 24, 2023) with accrued interest at the rate of 8% per annum, compounded annually. The notes and accrued interest are convertible at the option of the holders at any time into restricted shares of the Company’s common stock at a price of $0.037631, being the volume-weighted average price of the common stock over the 10 trading days immediately preceding the date the notes were funded. The CEO was issued a note in the principal amount of $40,000, which included a $15,000 advance made in October 2020 and an additional loan of $25,000. A stockholder of the Company loaned $25,000 on these terms. Both lenders were also issued three types of warrants, exercisable for a five-year period, at prices of $0.040265, $0.043276, and $0.045157, to purchase a total of 5,181,897 shares.

The Company had recorded the conversion feature as a Beneficial Conversion Feature. The $65,000 fair value of the notes was fully discounted at the date of issuance based on the fair value warrants and beneficial conversion feature, and the expense portion of the notes was amortized over the term of the notes. As the warrants exceeded the value of the notes themselves, the discount is the entire amount of the notes. This fair value has been determined based on the current trading prices of the Company’s common stock. Management has determined that this treatment is appropriate given the uncertain nature of the value of the Company and its stock, and there

Note 6 – Convertible Notes Payable (continued)

will be no revaluations until the note is paid or redeemed for stock. The note holders have agreed not to convert the loans unless sufficient shares of common stock are available for conversion.

At September 30, 2024 and June 30, 2024, $65,000 was due under the financing agreements. During the three months ended September 30, 2023, $5,402, was charged to operations for amortization of the Beneficial Conversion Feature of the related party convertible notes payable.

In November 2024, the noteholders agreed to extend the due date of the loans through December 31, 2024 under the same terms and conditions as the original note. The Company has accrued interest on the notes at the default interest rate of 18% per annum from November 24, 2023 through September 30, 2024; has adjusted the conversion price to $0.01 per share.

Note 7 – Related Party Transactions

The Company’s Chief Executive Officer has advanced $68,400 to the Company for working capital and operating purposes, of which $10,000 was advanced during the three months ended September 30, 2024. The advances are non-interest bearing and are repayable on demand. At September 30, 2024 and June 30, 2024, the Company recorded a current liability to the officer of $68,400 and $58,400, respectively. The Company has recorded imputed interest on the advances at a rate of 10% for the periods ended September 30, 2024 and 2023 in the amounts of $1,502 and $1,125, respectively.

The Board of Directors authorized the issuance of a total of 2,500,000 shares of common stock of the Company to each of its Chief Executive Officer and Chief Financial Officer, with 250,000 of such shares to be issued to each of them every quarter beginning July 1, 2021 and continuing every three months through October 1, 2023. In June 2022, the Board of Directors authorized the issuance of a total of 1,250,000 shares of common stock to its Chief Operating Officer with 250,000 of such shares to be issued to him every quarter beginning July 1, 2022 and continuing every three months through July 1, 2023. At June 30, 2023, the Company has included as stock payable the $50,750 fair value of the aggregate 750,000 shares due to the officers; these shares were subsequently issued during the three months ended September 30, 2023.

As discussed in Note 6, in November 2020, the Company entered into convertible debt financing agreements with two individuals, its CEO and a shareholder, for aggregate borrowings of $65,000.

BioPharma was formed as a subsidiary of Kanativa USA, which is a subsidiary of Kanativa Inc. Kanativa USA was issued 24,000,000 shares of BioPharma’s common stock as consideration for its contribution of 100% of the ownership of NexN, and costs and expenses incurred on behalf of BioPharma and capitalized license agreement costs.

The members of the Company’s Board of Directors, its Chief Executive Office and its Chief Financial Officer are also directors and officers of Kanativa Inc., and other subsidiaries and affiliated entities of Kanativa Inc.

Note 8- Commitments and Contingencies

At September 30, 2024 there were no legal proceedings against the Company.

Note 9 – Subsequent Events

In October 2024, the Company’s Chief Executive Officer advanced $10,000 to the Company for working capital and operating purposes. The advance is non-interest bearing and is repayable on demand.

In October 2024, the Company entered into a note purchase agreement with Quick Capital pursuant to which the Company issued Quick Capital a convertible promissory note, due six months after the date of issue, in the principal amount of $12,222, with simple interest at the rate of 12% per annum (default interest at 24% per annum). The Company received net proceeds of $10,000 from the note, after Quick Capital’s legal fees of $1,000, and an original issuance discount of 10% ($1,222). The note is convertible into shares of common stock at a fixed conversion price of $0.01 per share. In connection with the note issuance, Quick Capital was also issued 300,000 restricted shares of the Company’s common stock.

In November 2024, the Company entered into a financing agreement with a shareholder. Under the agreement, the Company issued an unsecured convertible promissory note in the amount of $5,000, due six months from date of issuance with accrued interest at the rate of 12% per annum, compounded annually. The note and accrued interest are convertible at the option of the holder at any time into restricted shares of the Company’s common stock at a fixed conversion price of $0.01 per share.

The Company has analyzed its operations subsequent to September 30, 2024, through the date these financial statements were issued, and has determined that it does not have any additional material subsequent events to disclose.

MANAGEMENT’S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION

Forward-Looking Statements

The following plan of operation provides information which management believes is relevant to an assessment and understanding of our results of operations and financial condition. The discussion should be read along with our financial statements and notes thereto. This section includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Certain statements that the Company may make from time to time, including all statements contained in this report that are not statements of historical fact, constitute “forward-looking statements”. Forward-looking statements may be identified by words such as “plans,” “expects,” “believes,” “anticipates,” “estimates,” “projects,” “will,” “should,” and other words of similar meaning used in conjunction with, among other things, discussions of future operations, financial performance, product development and new product launches, market position and expenditures. You should not place undue certainty on these forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our predictions.

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is intended to help you understand our historical results of operations during the periods presented and our financial condition for the three months ended September 30, 2024 and 2023. This MD&A should be read in conjunction with our audited financial statements as of June 30, 2024.

Overview

We are engaged in pursuing pre-clinical and drug development activities for certain pharmaceutical formulations that include cannabinoids. We have filed three provisional patent applications, and acquired a license covering certain intellectual property related to a drug delivery system.

As a relatively new business engaged in start-up operations and activities, we will require substantial additional funding to successfully complete any of our drug development programs. At present, we cannot estimate the substantial capital requirements needed to secure regulatory approvals for our drug candidates. We estimate that we will need to raise at a minimum $50,000 just to maintain our existence as a public company for the remainder of the current fiscal year.

We are a start-up company with no revenues from operations. Notwithstanding our successful raise of $2,076,158, net of offering costs, in equity capital and the receipt of $166,750, net of financing costs, from debt issuances during the period from inception to September 30, 2024 there is substantial doubt that we can continue as an on-going business for the next twelve months without a significant infusion of capital or entering into a business combination transaction. We do not anticipate that we will generate revenues from our research and development activities related to our drug development projects in the near future, due to the protracted revenue model of pursuing pharmaceutical drug development in accordance with the pathway set forth by the FDA. The Company had to cease research and development activities due to the lack of sufficient working capital. While management continues its efforts to raise additional capital for the Company, it is also seeking merger or other business combination or restructuring opportunities.

Results of Operations for the three months ended September 30, 2024 as compared to September 30, 2023

Net loss for the three months ended September 30, 2024 was $32,004, a decrease in loss of $42,914 from the net loss of $74,918 reported for the three months ended September 30, 2023.

General and administrative costs were $3,030 for the three months ended September 30, 2024, consisting solely of operating expenses to maintain the Company’s status as a public reporting entity. In comparison, general and administrative costs of $46,455 for the three months ended September 30, 2023 includes $35,000 as the value of non-cash stock-based compensation costs for common shares issued to the Company’s officers.

General and administrative expenses, exclusive of non-cash compensation costs, were consistent during the 2024 and 2023 periods, and consisted predominately of costs and expenses associated with the Company’s maintaining its public company status.

During the three months ended September 30, 2024 and 2023, the Company incurred $6,044 and $5,402, respectively, for discount related to the convertible debt financings. Interest expense for the three months ended September 30, 2024 was $10,250, and included imputed interest for non-interest bearing advances from an officer of the Company of $1,502. Interest expense for the three months ended September 30, 2023 was $7,521, and included imputed interest for non-interest bearing advances from an officer of the Company of $1,125.

There were no research and development costs for the periods ended September 20, 2024 and 2023 due to the Company’s limited financial resources and availability of research personnel.

Professional fees of $12,680 for the three months ended September 30, 2024 decreased by $2,860 from $15,540 for the period ended September 30, 2023. Fees for the 2024 and 2023 periods consisted of legal fees for securities related matters and fees for auditor quarterly review and other required tax and regulatory.

During the three months ended September 30, 2023, the Company issued 750,000 shares of common stock to three officers for services rendered to the Company.

At September 30, 2024 and June 30, 2024, the Company had outstanding convertible notes in the principal amounts of $65,000 to its CEO and a shareholder; and convertible notes to Quick Capital in the face amount of $194,898 (2024) and $188,854 (2023).

Liquidity and Capital Resources

At September 30, 2024, we had a working capital deficit of $391,751 and cash of $4,953, as compared to a working capital deficit of $361,249 and cash of $4,183 at June 30, 2024. The decrease in working capital was due primarily to the utilization of existing cash for operating activities during the three months ended September 30, 2024. Substantially all available funds were being utilized solely for maintaining corporate operations as a public company. We used $9,230 of cash for operating activities during the three months ended September 30, 2024, and received cash from investing activities of $10,000 during the period.

The Company had to cease research and development activities due to the lack of sufficient working capital. While management continues its efforts to raise additional capital for the Company, it is also seeking merger or other business combination or restructuring opportunities.

Our ability to create sufficient working capital to sustain us over the next twelve-month period, and beyond, is dependent on our raising additional equity or debt capital or entering into strategic arrangements with one or more third parties.

There can be no assurance that sufficient capital will be available to us. We currently have no agreements, arrangements or understandings with any person to obtain funds through bank loans, lines of credit or any other sources.

On September 17, 2024, the Company’s Chief Executive Officer advanced $10,000 to the Company for working capital and operating purposes. The advance is non-interest bearing and is repayable upon demand.

Availability of Additional Capital

Notwithstanding our success in raising gross proceeds of $2.1 million from the private sale of equity securities through September 30, 2024, and the completion of a debt financing agreement resulting in the receipt of $166,750 net proceeds, there can be no assurance that we will continue to be successful in raising additional funds through equity capital and/or debt financings and have adequate capital resources to fund our operations or that any additional funds will be available to us on favorable terms or in amounts required by us. We estimate that we will require at a minimum $50,000 just to maintain our existence as a public company for the remainder of the current fiscal year.

Any additional equity financing may be dilutive to our stockholders, new equity securities may have rights, preferences or privileges senior to those of existing holders of our shares of Common Stock. Debt or equity financing may subject us to restrictive covenants and significant interest costs.

Capital Expenditure Plan During the Next Twelve Months

Through September 30, 2024, we raised approximately $2.1 million, in equity capital (including exercised warrants) and $166,750, net, in debt financings, and we may be expected to require a minimum of $50,000 in capital during the remainder of the current fiscal year to continue our existence as a public company. There can be no assurance that we will continue to be successful in raising capital in sufficient amounts and/or at terms and conditions satisfactory to the Company. Any revenues are expected to come from our drug development projects, which will take several years if successful. As a result, we will continue to incur operating losses unless and until we have obtained regulatory approval with respect to one of our drug development projects and commence to generate sufficient cash flow to meet our operating expenses. There can be no assurance that we will obtain regulatory approval and the market will adopt our future drugs. In the event that we are not able to successfully: (i) raise equity capital and/or debt financing; or (ii) market our drugs after obtaining regulatory approval, our financial condition and results of operations will be materially and adversely affected. Accordingly, while management continues its efforts to raise additional capital for the Company, it is also seeking merger or other business combination or restructuring opportunities.

Going Concern Consideration

Our registered independent auditors have issued an opinion on our financial statements as of June 30, 2024 which includes a statement describing our going concern status. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills and meet our other financial obligations. This is because we have not generated any revenues and no revenues are anticipated until we begin marketing any drugs that we successfully develop. Accordingly, we must raise capital from sources other than the actual sale from any drugs that we develop. We must raise capital to continue our drug development activities and stay in business.

Off-Balance Sheet Arrangements

At September 30, 2024 and June 30, 2024, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K promulgated under the Securities Act of 1934.

Contractual Obligations and Commitments

In February 2018, we obtained a worldwide exclusive license with respect to a proprietary delivery system for cannabinoid-based medications. We paid $65,000 in cash to the licensor pursuant to the terms of the agreement and issued shares of our common stock, valued at $35,000, as final payment due in August 2019. We are required to pay milestone payments upon obtaining regulatory approval of pharmaceutical licensed products and royalties based upon sales of licensed products. We may grant sublicenses under the terms of the agreement.

Critical Accounting Policies

Our significant accounting policies are described in the notes to our financial statements as of September 30, 2024 and are included elsewhere in this report.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of disclosure controls and procedures.

As of September 30, 2024, the Company’s chief executive officer and chief financial officer conducted an evaluation regarding the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) under the Exchange Act. Based upon the evaluation of these controls and procedures as provided under the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework (2013), our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were ineffective as of the end of the period covered by this report.

Changes in internal controls.

During the quarterly period covered by this report, no changes occurred in our internal control over financial reporting that materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Risk Factors in our Form 10-K as filed with the SEC on October 22, 2024, which could materially affect our business, financial condition or future results. The risks described in our Form 10-K are not the only risks facing our company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

Regulation S-K Number		Document
3.1		Certificate of Incorporation (1)
3.2		Certificate of Merger (1)
3.3		Certificate of Amendment to Certificate of Incorporation (1)
3.4		Certificate of Amendment to Certificate of Incorporation (2)
3.5		Certificate of Amendment to Certificate of Incorporation (3)
3.6		Bylaws (1)
10.1		2017 Stock Incentive Plan (2)
10.2		Exclusive License Agreement between the Company and Accu-Break Pharmaceuticals, Inc. (2)
10.3		2018 Equity Incentive Plan (2)
10.4		First Amendment to Exclusive License Agreement between the Company and Accu-Break Pharmaceuticals, Inc. dated September 18, 2018 (3)
10.5		Demand Convertible Promissory Note dated June 11, 2020 to Richard Greenberg (4)
10.6		Convertible Promissory Note and Warrants dated November 24, 2020 to Richard Greenberg (5)
10.7		Note Purchase Agreement dated January 18, 2022 between the Company and Quick Capital, LLC (6)
10.8		Convertible Promissory Note dated January 18, 2022 issued to Quick Capital, LLC (6)

10.9		Common Stock Purchase Warrant dated January 18, 2022 issued to Quick Capital, LLC (6)
10.10		Amendment and Extension of Note Purchase Agreement dated May 8, 2023 (7)
10.11		Note Purchase Agreement dated February 14, 2024 between the Company and Quick Capital, LLC (8)
10.12		Convertible Promissory Note dated February 14, 2024 issued to Quick Capital, LLC (8)
10.13		Amendment and Second Extension of Note Purchase Agreement between the Company and Richard Greenberg dated February 29, 2024 (8)
31.1		Rule 13a-14(a) Certification of Richard Greenberg
31.2		Rule 13a-14(a) Certification of Evan L. Wasoff
32.1		Certification of Richard Greenberg Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2		Certification of Evan L. Wasoff Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101		Financial statements from the Quarterly Report on Form 10-Q of Nexien BioPharma, Inc. for the quarterly period ended September 30, 2024, formatted in XBRL: (i) the Balance Sheets; (ii) the Statements of Operations; (iii) Statements of Stockholders’ (Deficit), (iv) the Statements of Cash Flows and (v) the Notes to Financial Statements (9)
101.INS		Inline XBRL Instance Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

(1)	Filed as an exhibit to the registration statement on Form 10 filed November 14, 2014.
(2)	Filed as an exhibit to the Quarterly Report on Form 10-Q filed May 15, 2018.
(3)	Filed as an exhibit to the Annual Report on Form 10-K filed September 28, 2018.
(4)	Filed as an exhibit to the Annual Report on Form 10-K filed September 28, 2020.
(5)	Filed as an exhibit to the Quarterly Report on Form 10-Q filed February 11, 2021.
(6)	Filed as an exhibit to the Current Report on Form 8-K filed January 21, 2022.
(7)	Filed as an exhibit to the Annual Report on Form 10-K filed September 28, 2023.
(8)	Filed as an exhibit to the Current Report on Form 10-Q filed May 15, 2024.
(9)	In accordance with Rule 406T of Regulation S-T, the information in these exhibits shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability under that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NEXIEN BIOPHARMA, INC.

Dated: November 18, 2024	By:	/s/ Richard Greenberg
		Richard Greenberg, Chief Executive Officer

	By:	/s/ Evan L. Wasoff
		Evan L. Wasoff, Chief Financial Officer

Exhibit 31.1

RULE 13a-14(a) CERTIFICATION

I, Richard Greenberg, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of Nexien BioPharma, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a)	designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

	b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

	a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: November 18, 2024	/s/ Richard Greenberg
	Richard Greenberg
	Chief Executive Officer
	(principal executive officer)

Exhibit 31.2

RULE 13a-14(a) CERTIFICATION

I, Evan L. Wasoff, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of Nexien BioPharma, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a)	designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

	b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

	a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: November 18, 2024	/s/ Evan L. Wasoff
	Evan L. Wasoff
	Chief Financial Officer
	(principal financial officer)

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Nexien BioPharma, Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2024, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Richard Greenberg, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: November 18, 2024	/s/ Richard Greenberg
	Richard Greenberg
	Chief Executive Officer
	(principal executive officer)

Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Nexien BioPharma, Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2024 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Evan L. Wasoff, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: November 18, 2024	/s/ Evan L. Wasoff
	Evan L. Wasoff
	Chief Financial Officer
	(principal financial officer)

Cover - shares	3 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 18, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--06-30
Entity File Number	000-55320
Entity Registrant Name	NEXIEN BIOPHARMA, INC.
Entity Central Index Key	0001625288
Entity Tax Identification Number	26-2049376
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	4340 E Kentucky Ave.
Entity Address, Address Line Two	Suite 206
Entity Address, City or Town	Glendale
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80246
City Area Code	(303)
Local Phone Number	495-7583
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		70,772,196

Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Current Assets
Cash	$ 4,953	$ 4,183
Total Current Assets	4,953	4,183
Total Assets	4,953	4,183
Current Liabilities
Accounts payable and accrued expenses	68,406	53,178
Due to officer	68,400	58,400
Total Current Liabilities	396,704	365,432
Total Liabilities	396,704	365,432
Commitments and Contingencies
Stockholders’ (Deficit)
Preferred stock - $.0001 par value; 10,000,000 authorized; none issued
Common stock - $.0001 par value; 200,000,000 shares authorized; 70,472,196 shares issued and outstanding	7,047	7,047
Additional paid in capital	11,167,679	11,166,177
Accumulated deficit	(11,566,477)	(11,534,473)
Total Stockholders’ (Deficit)	(391,751)	(361,249)
Total Liabilities and Stockholders’ (Deficit)	4,953	4,183
Related Party [Member]
Current Liabilities
Due to officer	68,400	58,400
Convertible note payable	65,000	65,000
Nonrelated Party [Member]
Current Liabilities
Convertible note payable	$ 194,898	$ 188,854

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Debt instrument net of discount	$ 0	$ 0
Preferred stock, par value	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	70,472,196	70,472,196
Common stock, shares outstanding	70,472,196	70,472,196
Nonrelated Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Debt instrument net of discount		$ 6,044

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue
Operating expenses
Professional fees	12,680	15,540
General and administrative	3,030	46,455
Total operating expenses	15,710	61,995
Other income (expense)
Interest expense	(10,250)	(7,521)
Amortization of discount on convertible notes	(6,044)	(5,402)
Total other income (expense)	(16,294)	(12,923)
Net loss	$ (32,004)	$ (74,918)
Loss per share - basic	$ (0.000)	$ (0.001)
Loss per share - diluted	$ (0.000)	$ (0.001)
Weighted average shares outstanding - basic	70,472,196	64,574,394
Weighted average shares outstanding - diluted	70,472,196	64,574,394

Consolidated Statements of Stockholders' (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Stock Payable [Member]	Retained Earnings [Member]	Total
Balance at Jun. 30, 2023	$ 6,402	$ 10,986,201	$ 50,750	$ (11,295,360)	$ (252,007)
Balance, shares at Jun. 30, 2023	64,022,196
Imputed interest on related party advance		1,125			1,125
Net (loss)				(74,918)	(74,918)
Common stock issued to officers	$ 75	50,675	(50,750)
Common stock issued to officers, shares	750,000
Common stock to be issued to officers			35,000		35,000
Balance at Sep. 30, 2023	$ 6,477	11,038,001	35,000	(11,370,278)	(290,800)
Balance, shares at Sep. 30, 2023	64,772,196
Balance at Jun. 30, 2024	$ 7,047	11,166,177		(11,534,473)	(361,249)
Balance, shares at Jun. 30, 2024	70,472,196
Imputed interest on related party advance		1,502			1,502
Net (loss)				(32,004)	(32,004)
Balance at Sep. 30, 2024	$ 7,047	$ 11,167,679		$ (11,566,477)	$ (391,751)
Balance, shares at Sep. 30, 2024	70,472,196

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net loss	$ (32,004)	$ (74,918)
Adjustments to reconcile net loss to net cash used in operating activities
Imputed interest on related party advances	1,502	1,125
Stock to officers		35,000
Amortization of discount on convertible debt - related		5,402
Amortization of discount on convertible debt	6,044
Changes is assets and liabilities
Decrease in prepaids		3,990
Increase in accounts payable and accrued expenses	15,228	12,318
Cash used in operating activities	(9,230)	(17,083)
Cash flows from investing activities
Cash used in investing activities
Cash flows from financing activities
Cash proceeds from related party advance	10,000
Cash provided by financing activities	10,000
Net increase in cash and cash equivalents	770	(17,083)
Cash and cash equivalents, beginning of period	4,183	35,147
Cash and cash equivalents, end of period	4,953	18,064
Supplemental disclosure of non-cash investing and
Shares issued to officers for services from stock payable		$ 50,750

Nature of Business and Basis of Presentation

3 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Nature of Business and Basis of Presentation

Note 1 – Nature of Business and Basis of Presentation

Principles of Consolidation

Going Concern Uncertainty

3 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern Uncertainty

Note 2 - Going Concern Uncertainty

Summary of Significant Accounting Policies

3 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 3 – Summary of Significant Accounting Policies

Use of Estimates

Cash and Cash Equivalents

Valuation of Long-Lived Assets

Fair Value of Financial Instruments

Fair Value Measurements

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access.

Level 2: Inputs to the valuation methodology include:

	●	Quoted prices for similar assets or liabilities in active markets;
	●	Quoted prices for identical or similar assets or liabilities in inactive markets;
	●	Inputs other than quoted prices that are observable for the asset or liability;
	●	Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Note 3 – Summary of Significant Accounting Policies (continued)

If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability.

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

As at September 30, 2024 and June 30, 2024, no assets or liabilities were required to be measured at fair value on a recurring basis.

Earnings per Common Share

Income Taxes

Revenue Recognition

Research and Development Expenses

Research and development expenses are charged to operations as incurred. There were no research and development expenses incurred during the three months ended September 30, 2024 and 2023.

Note 3 – Summary of Significant Accounting Policies (continued)

Advertising Expenses

Advertising expenses are charged to operations as incurred. There were no advertising expenses incurred during the three months ended September 30, 2024 and 2023.

Stock-based compensation

Pursuant to FASB ASC 718, all share-based payments to employees, including grants of employee stock options, are recognized in the statement of operations based on their fair values.

Issuance of shares for non-cash consideration

Reclassifications

Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current period presentation.

Recent Accounting Pronouncements

License Agreements

3 Months Ended

Sep. 30, 2024

License Agreements

License Agreements

Note 4 – License Agreements

Accu-Break License Agreement

Stockholders’ Equity

3 Months Ended

Sep. 30, 2024

Equity [Abstract]

Stockholders’ Equity

Note 5– Stockholders’ Equity

Common stock

During the three months ended September 30, 2023, the Company issued shares of its common stock as follows:

●

Options

A summary of option activity during the three months ended September 30, 2024 is presented below:

Schedule of Stock Option Activity

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)

Outstanding and exercisable – June 30, 2024		7,995,000	$	0.26		1.7
Granted		-
Exercised		-
Expired/Canceled		-
Outstanding and exercisable -September 30, 2024		7,995,000	$	0.26		1.5

Warrants

A summary of warrant activity during the nine months ended September 30, 2024 is presented below:

Summary of Warrant Activity

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)

Outstanding and exercisable – June 30, 2024		5,529,409	$	0.0429		1.35
Granted		-
Exercised		-
Expired/Canceled		-
Outstanding and exercisable – September 30, 2024		5,529,409	$	0.0429		1.10

Convertible Notes Payable

3 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Convertible Notes Payable

Note 6 – Convertible Notes Payable

Convertible note purchase agreement

There is no debt discount at September 30, 2024 and June 30, 2024, as all unamortized debt issuance costs and original issue discount had previously been charged to operations.

Convertible notes payable - related

Note 6 – Convertible Notes Payable (continued)

will be no revaluations until the note is paid or redeemed for stock. The note holders have agreed not to convert the loans unless sufficient shares of common stock are available for conversion.

Related Party Transactions

3 Months Ended

Sep. 30, 2024

Related Party Transactions

Note 7 – Related Party Transactions

The Board of Directors authorized the issuance of a total of 2,500,000 shares of common stock of the Company to each of its Chief Executive Officer and Chief Financial Officer, with 250,000 of such shares to be issued to each of them every quarter beginning July 1, 2021 and continuing every three months through October 1, 2023. In June 2022, the Board of Directors authorized the issuance of a total of 1,250,000 shares of common stock to its Chief Operating Officer with 250,000 of such shares to be issued to him every quarter beginning July 1, 2022 and continuing every three months through July 1, 2023. At June 30, 2023, the Company has included as stock payable the $50,750 fair value of the aggregate 750,000 shares due to the officers; these shares were subsequently issued during the three months ended September 30, 2023.

As discussed in Note 6, in November 2020, the Company entered into convertible debt financing agreements with two individuals, its CEO and a shareholder, for aggregate borrowings of $65,000.

Commitments and Contingencies

3 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 8- Commitments and Contingencies

At September 30, 2024 there were no legal proceedings against the Company.

Subsequent Events

3 Months Ended

Sep. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

Note 9 – Subsequent Events

In October 2024, the Company’s Chief Executive Officer advanced $10,000 to the Company for working capital and operating purposes. The advance is non-interest bearing and is repayable on demand.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Use of Estimates

Use of Estimates

Cash and Cash Equivalents

Cash and Cash Equivalents

Valuation of Long-Lived Assets

Valuation of Long-Lived Assets

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Fair Value Measurements

Fair Value Measurements

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access.

Level 2: Inputs to the valuation methodology include:

	●	Quoted prices for similar assets or liabilities in active markets;
	●	Quoted prices for identical or similar assets or liabilities in inactive markets;
	●	Inputs other than quoted prices that are observable for the asset or liability;
	●	Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Note 3 – Summary of Significant Accounting Policies (continued)

If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability.

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

As at September 30, 2024 and June 30, 2024, no assets or liabilities were required to be measured at fair value on a recurring basis.

Earnings per Common Share

Earnings per Common Share

Income Taxes

Income Taxes

Revenue Recognition

Revenue Recognition

Research and Development Expenses

Research and Development Expenses

Research and development expenses are charged to operations as incurred. There were no research and development expenses incurred during the three months ended September 30, 2024 and 2023.

Note 3 – Summary of Significant Accounting Policies (continued)

Advertising Expenses

Advertising Expenses

Advertising expenses are charged to operations as incurred. There were no advertising expenses incurred during the three months ended September 30, 2024 and 2023.

Stock-based compensation

Stock-based compensation

Pursuant to FASB ASC 718, all share-based payments to employees, including grants of employee stock options, are recognized in the statement of operations based on their fair values.

Issuance of shares for non-cash consideration

Issuance of shares for non-cash consideration

Reclassifications

Reclassifications

Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current period presentation.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Stockholders’ Equity (Tables)

3 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Stock Option Activity

A summary of option activity during the three months ended September 30, 2024 is presented below:

Schedule of Stock Option Activity

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)

Outstanding and exercisable – June 30, 2024		7,995,000	$	0.26		1.7
Granted		-
Exercised		-
Expired/Canceled		-
Outstanding and exercisable -September 30, 2024		7,995,000	$	0.26		1.5

Summary of Warrant Activity

A summary of warrant activity during the nine months ended September 30, 2024 is presented below:

Summary of Warrant Activity

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)

Outstanding and exercisable – June 30, 2024		5,529,409	$	0.0429		1.35
Granted		-
Exercised		-
Expired/Canceled		-
Outstanding and exercisable – September 30, 2024		5,529,409	$	0.0429		1.10

Going Concern Uncertainty (Details Narrative)	90 Months Ended
Going Concern Uncertainty (Details Narrative)	Sep. 30, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating loss	$ 11,566,477
Working capital deficit	$ 391,751

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Cash equivalents	$ 0
Research and development expenses	0	$ 0
Advertising expenses	$ 0	$ 0
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Promissory note convertible into shares	7,995,000
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Promissory note convertible into shares	5,529,409
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Promissory note convertible into shares	25,606,712

License Agreements (Details Narrative) - Accu-Break Pharmaceuticals, Inc. [Member] - License Agreement [Member]	1 Months Ended
	Aug. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Payment to license	$ 65,000
Value of common stock shares	$ 35,000

Schedule of Stock Option Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Equity [Abstract]
Number of shares, outstanding and exercisable beginning balance	7,995,000
Weighted average exercise price, outstanding and exercisable beginning balance	$ 0.26
Weighted average remaining contractual life (years), outstanding and exercisable	1 year 6 months	1 year 8 months 12 days
Number of shares, granted
Number of shares, exercised
Number of shares, expired/canceled
Number of shares, outstanding and exercisable ending balance	7,995,000	7,995,000
Weighted average exercise price, outstanding and exercisable ending balance	$ 0.26	$ 0.26

Summary of Warrant Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
Summary of Warrant Activity (Details) - $ / shares	Sep. 30, 2024	Jun. 30, 2024
Equity [Abstract]
Number of shares, outstanding and exercisable beginning balance	5,529,409
Weighted average exercise price, outstanding and exercisable beginning balance	$ 0.0429
Weighted average remaining contractual life (years), outstanding and exercisable	1 year 1 month 6 days	1 year 4 months 6 days
Number of shares, granted
Number of shares, exercised
Number of shares, expired/canceled
Number of shares, outstanding and exercisable ending balance	5,529,409	5,529,409
Weighted average exercise price, outstanding and exercisable ending balance	$ 0.0429	$ 0.0429

Stockholders’ Equity (Details Narrative) - USD ($)	3 Months Ended
Stockholders’ Equity (Details Narrative) - USD ($)	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Jun. 30, 2022
Value of common stock issued for services
Chief Executive Officer [Member]
Number of stock authorized for issuance			2,500,000
Number of common stock shares issued for services		250,000
Chief Executive Officer [Member] \| Every Quarter from July 1, 2021 to October 1, 2023 [Member]
Number of stock authorized for issuance			250,000
Chief Financial Officer [Member]
Number of stock authorized for issuance			2,500,000
Number of common stock shares issued for services		250,000
Chief Financial Officer [Member] \| Every Quarter from July 1, 2021 to October 1, 2023 [Member]
Number of stock authorized for issuance			250,000
Chief Operating Officer [Member]
Number of stock authorized for issuance			1,250,000	1,250,000
Number of common stock shares issued for services		250,000
Chief Operating Officer [Member] \| Every Quarter from July 1, 2022 to April 1, 2023 [Member]
Number of stock authorized for issuance			250,000
Officer [Member]
Number of common stock shares issued for services	750,000
Value of common stock issued for services	$ 50,750

Convertible Notes Payable (Details Narrative)				1 Months Ended	3 Months Ended		12 Months Ended
Convertible Notes Payable (Details Narrative)	Feb. 14, 2024 USD ($) $ / shares shares	Jan. 18, 2022 USD ($) $ / shares shares	Nov. 24, 2020 USD ($) d $ / shares shares	May 31, 2023 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) $ / shares	Sep. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Oct. 31, 2020 USD ($)
Short-Term Debt [Line Items]
Accrued interest rate					18.00%
Conversion price \| $ / shares					$ 0.01
Debt discount					$ 0		$ 0
Amortization of discount					6,044	$ 5,402
Amortization of convertible notes						$ 5,402
Related Party [Member]
Short-Term Debt [Line Items]
Convertible notes payable					65,000		65,000
Note Purchase Agreement [Member] \| Quick Capital LLC [Member]
Short-Term Debt [Line Items]
Lending amount		$ 170,454			170,454
Accrued interest rate		12.00%		12.00%
Proceeds from convertible note		$ 146,750
Legal fees		$ 3,250
Original issuance discount rate		12.00%
Original issuance discount amount		$ 20,454
Conversion price \| $ / shares		$ 0.035		$ 0.04
Debt maturity date				Jun. 30, 2023
Debt shares issued \| shares				500,000
Debt shares issued, value				$ 20,000
Accrued interest					$ 34,408		29,308
Note Purchase Agreement [Member] \| Quick Capital LLC [Member] \| Convertible Promissory Note [Member]
Short-Term Debt [Line Items]
Lending amount	$ 24,444						24,444
Accrued interest rate	12.00%
Proceeds from convertible note	$ 20,000
Legal fees	$ 2,000
Original issuance discount rate	10.00%
Original issuance discount amount	$ 2,444
Number of common stock restricted shares \| shares	2,200,000
Conversion price \| $ / shares	$ 0.02
Accrued interest							1,090
Default interest rate	24.00%
Value of common stock restricted shares	$ 13,485
Amortization of discount							$ 18,400
Note Purchase Agreement [Member] \| Quick Capital LLC [Member] \| Warrant [Member]
Short-Term Debt [Line Items]
Number of common stock restricted shares \| shares		500,000
Warrants exercisable period		3 years
Number of warrants to purchase shares \| shares		347,512
Exercise price of warrants \| $ / shares		$ 0.075
Financing Arrangement [Member] \| Stockholder [Member]
Short-Term Debt [Line Items]
Advance amount			$ 25,000
Financing Arrangement [Member] \| Chief Executive Officer and Shareholder [Member]
Short-Term Debt [Line Items]
Accrued interest rate			8.00%
Debt maturity date			Nov. 24, 2023
Debt maturity term			3 years
Share price \| $ / shares			$ 0.037631
Trading days \| d			10
Fair value of notes payable			$ 65,000
Financing Arrangement [Member] \| Chief Executive Officer and Shareholder [Member] \| Class A Warrants [Member]
Short-Term Debt [Line Items]
Exercise price of warrants \| $ / shares			$ 0.040265
Financing Arrangement [Member] \| Chief Executive Officer and Shareholder [Member] \| Class B Warrants [Member]
Short-Term Debt [Line Items]
Exercise price of warrants \| $ / shares			0.043276
Financing Arrangement [Member] \| Chief Executive Officer and Shareholder [Member] \| Class C Warrants [Member]
Short-Term Debt [Line Items]
Exercise price of warrants \| $ / shares			$ 0.045157
Financing Arrangement [Member] \| Chief Executive Officer [Member]
Short-Term Debt [Line Items]
Lending amount			$ 40,000
Advance amount			$ 25,000					$ 15,000
Financing Arrangement [Member] \| Warrant [Member] \| Chief Executive Officer and Shareholder [Member]
Short-Term Debt [Line Items]
Warrants exercisable period			5 years
Number of warrants outstanding \| shares			5,181,897

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Nov. 24, 2020
Related Party Transaction [Line Items]
Due to officer	$ 68,400		$ 58,400
Aggregate fair value of stock payable				$ 50,750
Number of shares in stock payable				750,000
Kanativa Inc [Member]
Related Party Transaction [Line Items]
Number of common stock shares issued	24,000,000
Ownership percentage	100.00%
Related Party [Member]
Related Party Transaction [Line Items]
Due to officer	$ 68,400		$ 58,400
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Working capital	68,400
Working capital advances	$ 10,000
Imputed interest on advance rate	10.00%	10.00%
Imputed interest amount	$ 1,502	$ 1,125
Number of stock authorized for issuance	2,500,000
Chief Executive Officer [Member] \| Every Quarter from July 1, 2021 to October 1, 2023 [Member]
Related Party Transaction [Line Items]
Number of stock authorized for issuance	250,000
Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Number of stock authorized for issuance	2,500,000
Chief Financial Officer [Member] \| Every Quarter from July 1, 2021 to October 1, 2023 [Member]
Related Party Transaction [Line Items]
Number of stock authorized for issuance	250,000
Chief Operating Officer [Member]
Related Party Transaction [Line Items]
Number of stock authorized for issuance	1,250,000				1,250,000
Chief Operating Officer [Member] \| Every Quarter from July 1, 2022 to July 1, 2023 [Member]
Related Party Transaction [Line Items]
Number of stock authorized for issuance	250,000
Chief Executive Officer and Shareholder [Member] \| Financing Arrangement [Member]
Related Party Transaction [Line Items]
Fair value of notes payable						$ 65,000

Subsequent Events (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended
Subsequent Events (Details Narrative) - USD ($)	Jan. 18, 2022	Oct. 31, 2024	Sep. 30, 2024	Nov. 30, 2024	May 31, 2023	Nov. 24, 2020
Subsequent Event [Line Items]
Interest rate			18.00%
Conversion price			$ 0.01
Note Purchase Agreement [Member] \| Quick Capital LLC [Member]
Subsequent Event [Line Items]
Principal amount	$ 170,454		$ 170,454
Interest rate	12.00%				12.00%
Proceeds from convertible note	$ 146,750
Legal fees	$ 3,250
Original issuance discount rate	12.00%
Original issuance discount amount	$ 20,454
Conversion price	$ 0.035				$ 0.04
Subsequent Event [Member] \| Note Purchase Agreement [Member] \| Quick Capital LLC [Member]
Subsequent Event [Line Items]
Principal amount		$ 12,222
Interest rate		12.00%
Default interest rate		24.00%
Proceeds from convertible note		$ 10,000
Legal fees		$ 1,000
Original issuance discount rate		10.00%
Original issuance discount amount		$ 1,222
Conversion price		$ 0.01
Number of restricted shares issued		300,000
Subsequent Event [Member] \| Financing Arrangement [Member]
Subsequent Event [Line Items]
Principal amount				$ 5,000
Interest rate				12.00%
Conversion price				$ 0.01
Chief Executive Officer [Member]
Subsequent Event [Line Items]
Working capital			$ 68,400
Chief Executive Officer [Member] \| Financing Arrangement [Member]
Subsequent Event [Line Items]
Principal amount						$ 40,000
Chief Executive Officer [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Working capital		$ 10,000